KUALA LUMPUR (March 28): Healthcare company Columbia Asia Group received additional equity investment of US$210 million last week, primarily from existing shareholders.

In a statement March 22, Columbia Asia said the fresh funds will be used primarily to build new hospitals and deepen the level of specialty care in existing facilities.

Columbia Asia, which is owned by International Columbia US, LLC (ICU) and part of Seattle-based Columbia Pacific Management, has 29 hospitals and 2 clinics across Malaysia, India, Indonesia, Vietnam and Kenya, focused on serving Asia’s rapidly growing middle class. 

Of the US$210 million in new investment, Tokyo-based Mitsui & Co., Ltd, a major healthcare investor in Asia, is contributing US$140 million.

Mitsui, an existing equity shareholder in Columbia Asia, invested US$101 million in the company in 2016 to aid the group’s expansion across Asia and is now increasing its share.